Meanwhile, GENY tracks the Nasdaq Global Millennial Opportunity Index. This index seeks to capture the global spending and lifestyle activities of the largest generation ever, offering exposure to brand name companies specializing in social media, digital media, technology, healthy lifestyles, travel and leisure. The companies will evolve over time as the spending patterns of millennials change as they age.
Kim said the ETF offerings are designed to serve both retail and institutional customers.
“We are committed to delivering cost-effective structures that offer ongoing portfolio growth potential,” Kim said.
Principal Millennials Index ETF and Principal Healthcare Innovators Index ETF will be managed by Jeff Schwarte, Mark R. Nebelung, and Paul Kim of Principal Global Investors.
With these new offerings, Principal has launched five ETFs since 2015.